THAI clarifies dismissal
The board of Thai Airways International yesterday issued a statement aimed at clarifying doubts over the removal of Piyasvasti Amranand as president of the company, saying one of the reasons for his termination was a disagreement between him and |the boar
At a news conference, the statement was read out by Chokchai Panyayong, the company’s acting president and also executive vice president for strategy and business development.
As he did so, placards displayed by THAI Labour Union members asked where board chairman Ampon Kittiampon was. The union said it had no confidence that Chokchai could clear up sensitive issues, and so a cloud remained over the national airline.
The board’s statement highlighted the purchase of 12 aircraft proposed by Piyasvasti to the board for consideration in March as part of its fleet modernisation. The aircraft delivery period will be from 2018 to 2020.
However, the proposal was not placed high on the agenda at the March board meeting. The board wanted more time to consider it because it was a major investment, which would have an impact on future financial performance. However, Piyasvasti insisted it was an urgent issue.
If the board did not move ahead on it quickly, he said the company would miss out on four Boeing 787-9 aircraft because of production scheduling, which would hurt the business.
Debate on the issue was heated. The board said the decision would be based on the framework of a Cabinet resolution, and on opinions of the Office of the National Economic and Social Development Board and the Budget Bureau.
Overall, it warned that the purchase could not hurt business, especially financial performance. Risks, especially currency exchange and rising fuel cost, would have to be managed. If something changed to affect the investment and financial plan on the purchase significantly, it would be submitted to the Cabinet for reconsideration.
Last year, THAI suffered a loss of Bt12 billion.
Jamsri Sukchotirat, president of the THAI Labour Union, said Chokchai’s statement did not make sense. It was one-sided information, and she preferred Ampon |to come out to clarify all doubts himself.
She said the purchase of 12 aircraft was indeed a big investment, and therefore would have been considered carefully under the investment procedures of the company before submitting the proposal to the board. She urged Chokchai, who chairs the aircraft-purchase plan, to take responsibility for the issue.
